This slide shows what the recent bond issue looked like when it first was being discussed:
City council thought that was too much so they lowered their bond request to $413 million to fund the police and fire projects and eliminated the streets, public health, and animal services portions.
Gosh that was thoughtful of them.
One week after the voters passed the $413 million bond city staff brought council a request for $100 million in certificates of obligation to fund projects that were already being built but that most citizens did not know were not paid for yet.
They probably thought they would not get their $413 million if the public knew about the $100 million.
Now less than two weeks after springing the $100 million problem on us they are at it again.
In the Monday, December 9, 2019 special city council meeting they are going to ask for yet another $46 million in certificates of obligation.
Do you remember the $10.9 million they dropped from the July 22, 2019 plan? That was for animal services.
Guess what? It’s back:
They did not want us to vote on this so they will just issue certificates of obligation.
We deserve better
It’s like our city government is run by a group of financial con artists. It reminds me of Enron and we know how that ended.
I’d rather actually be and act as a con artist than just be called one when I’m not. At least I’d have the suitcase of cash.
My con artist strategy for the city, should my opinion ever be consulted, is to default on some part of the debt, favorably the stadium bonds. The would serve several purposes.
First, it would boost the city’s cash flow. Second, it would send a message to Paul and Woody that they are off the taxpayer welfare role. Third, it would make future debt issuance prohibitively expensive, so much so that CC would have to live within our means.
Live within our means. What a concept!
BILLIONS$$$$ in debt they can’t pay.. BILLIONS$$$ more coming. Mayor, Tommy Gonzalez, Silly Council will be running for the plane 3am on the way to wherever with suit cases full of TAXPAYER money. Inherent corruption, just one big criminal operation. Bankruptcy, insolvency knocking on da door..